Incyte Co. (NASDAQ:INCY) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 4,960,000 shares, a decline of 16.1% from the March 31st total of 5,910,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is presently 3.9 days.
INCY stock traded down $4.49 during trading hours on Tuesday, hitting $81.03. The company’s stock had a trading volume of 2,450,671 shares, compared to its average volume of 1,252,995. The company has a quick ratio of 3.53, a current ratio of 3.56 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $82.15 and a two-hundred day moving average price of $85.07. The company has a market capitalization of $17.82 billion, a PE ratio of -52.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96. Incyte has a 12 month low of $75.52 and a 12 month high of $110.36.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 8th. The biopharmaceutical company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.30. The business had revenue of $788.50 million during the quarter, compared to the consensus estimate of $654.08 million. Incyte had a negative net margin of 13.62% and a negative return on equity of 13.66%. Incyte’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Sell-side analysts expect that Incyte will post -1.45 earnings per share for the current year.
A number of research firms have recently issued reports on INCY. Truist initiated coverage on shares of Incyte in a report on Thursday, January 7th. They set a “buy” rating and a $120.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Incyte from $93.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, April 5th. SVB Leerink lowered shares of Incyte from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $89.00 to $70.00 in a research note on Wednesday, February 10th. TheStreet lowered shares of Incyte from a “b-” rating to a “c” rating in a research note on Monday, March 15th. Finally, Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating in a research note on Monday, January 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Incyte has a consensus rating of “Hold” and an average target price of $100.85.
In other news, President Herve Hoppenot purchased 12,925 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The shares were acquired at an average price of $77.37 per share, for a total transaction of $1,000,007.25. Also, EVP Michael James Morrissey sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $81.08, for a total transaction of $1,621,600.00. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of INCY. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Incyte by 49.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 383 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 127 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Incyte by 1,366.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 440 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 410 shares during the period. Bessemer Group Inc. boosted its holdings in Incyte by 121.0% in the 4th quarter. Bessemer Group Inc. now owns 431 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 236 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in Incyte by 156.0% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 640 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 390 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Incyte by 74.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 263 shares during the period. 91.37% of the stock is owned by institutional investors and hedge funds.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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